Consumer Proposals: Answers to Questions

Most Recent ‘Consumer Proposals’ Posts

Dealing with the payments

After being through a bankruptcy in the past i fine a need to look at a consumer proposal. One of my worries is the repayment if you are married and have a one child ie teenager living with you does that effect the payment that would be do back i see that the max repayment […]

Will a co-signer’s credit be affected if I file a consumer proposal?

I have a line of credit that has my sister as a co-signer, it is a joint account. Will her credit be affected if I file a consumer proposal? Posted from: Ontario

Being a guarantor while on consumer proposal

Am I allowed to be a guarantor for someone who is trying to get a bank loan while I am completing the consumer proposal? Thank you! Posted from: Ontario

Unemployed Stay and home mom

Can an unemployed stay at home mom file a consumer proposal? I’m in a common law relationship and our debts are separate. Posted from: Nova Scotia

Consumer Proposal & secured debt

If I include a secured debt in a proposal that gets accepted can the creditor come after me for any costs associated with the sellingauctioning of the secrued asset? There is more owing than what asset is worth. thanks Posted from: Ontario

Stay of Procedings

HI, I would like to know what a stay of procedings is? Thank you Posted from: Ontario

LOC, Overdraft, Secured LOC

If a person has $40K in a locked-in RRSP and makes a consumer proposal, can they then access a secured LOC using the $40 K from the locked-in RRSP to secure the LOC? Can they get overdraft protection on their checking account? Cab they get a personal LOC? Is there a mechanism whereby they can […]

Consumer proposal fees

is it normal for the fees for a proposal to be paid “up front’ and is $800.00 reasonable? Posted from: Ontario

consumer proposal or debt settlement

I have credit card debt of $6500.A line of credit of $12000.A car loan of $21000.I am wanting to do a consumer proposal or debt settlement on the line of credit and credit cards.I don`t want to do it on the car as that is something that is budgeted in my monthly payments and I […]

questions

I had a couple of questions regarding personal bankruptcy versus a consumer proposal.I’ve been reading about these options as well as a debt management plan and debt cosolidation loan.I probably won’t qualify for the last two but my best option may be the proposal.Was wondering what % of debt is usually paid in these situations?I […]

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